The Ability-to-Repay Rule Possible Effects of the Qualified Mortgage Definition on Credit Availability and Other Selected Issues

Format:

Book

Government document

Author/Creator:

Library of Congress. Government Division

Language:

English

Subjects (All):

Banks and banking.

Consumer protection.

Finance--Law and legislation.

Finance.

Mortgages.

Physical Description:

1 online resource

Contained In:

ProQuest U.S. Congressional Research Digital Collection

Place of Publication:

[United States] [publisher not identified] 2014

Summary:

Summarizes ability-to-repay (ATR) rule implemented by Consumer Financial Protection Bureau to require lenders to determine ability of borrowers to repay loans based on documented and verified information when a mortgage loan is made. Provides background information on perceived mortgage market problems that motivated the ATR requirement. Analyzes potential effects it may have on credit availability and other aspects of the mortgage market. Addresses additional issues for consideration

This report is one in a series of updates. For the most recent coverage of this report series, please see 13-R4-3081 in the 2013 issue

Notes:

CRS Report

Record is based on bibliographic data in ProQuest U.S. Congressional Research Digital Collection (last viewed Apr. 2014). Reuse except for individual research requires license from ProQuest, LLC

Vendor supplied data

Other Format:

Microfiche version Library of Congress. Government Division. Ability-to-Repay Rule

Publisher Number:

CRS-2014-GVF-0114

Access Restriction:

Restricted for use by site license